Matt Goodson discusses the effects US bond yields on the NZ market
US bond yields also fell, sharply, fueling fears that a recession may be around the corner for the world's biggest economy.
Those sharply lower US bond yields could prove supportive for the local market, given its high level of high-yielding, bond proxy stocks, Matt Goodson, managing director of Salt Funds Management, said.
Goodson said the market to open weaker but he did not expect it to fare as badly as some of the offshore bourses.
"Large parts of the market like Spark, the power generators, and the property stocks, should not be hit too hard," Goodson said.
"The question will be around some of those pricier stocks - the Rymans, the Auckland Airports, and the A2 Milks of this world," he said.